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IRAs

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    Build wealth to tap into later in life

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The IRA advantage

An IRA (Individual Retirement Account) lets you save money for retirement tax-free until you are ready to withdraw it. You can set a fair amount of money aside each year and watch it grow. All withdrawals are taxable.

We currently have traditional IRAs available, as well as an IRA certificate of deposit (CD), which lets you earn a higher rate in return for leaving your money untouched. We are currently paying an annual percentage yield of 0.30% on IRA savings accounts. For IRA CDs, see our rates for regular CDs. If you’re interested in a Roth IRA, get in touch with our retirement and investment consultant.

Why choose Arsenal?

When it comes to retirement, you want a financial institution that truly cares about your well-being. We are 100 percent not for profit and member owned – which means we’re invested in your financial success, not just our own.

  1. 1

    Save your money

    Reduce the burden on your annual taxes by putting some of your money in an IRA.

  2. 2

    Grow your money

    Earn monthly interest on a traditional IRA and quarterly interest on an IRA CD.

  3. 3

    Protect your money

    IRA accounts at Arsenal are federally insured by the National Credit Union Administration (NCUA).

Start saving

When it comes to saving for retirement, the earlier, the better.

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FAQs

Use this calculator. Please note that this calculator should not be used for Roth 401(k) comparisons.
There is none for an IRA savings account, but $500 for an IRA CD.
For the 2019 tax year, the maximum contribution is $6,000 For those age 50 or older, the maximum contribution is $7,000.
A Traditional IRA can be established/funded by any individual who has taxable compensation or self employment income for the year and will not reach age 70½ by the end of the year. Note: These restrictions apply only to regular IRA contributions made for the year. There are no age limitations or income requirements for establishing a Traditional IRA for the purpose of receiving assets transferred from another Traditional, SEP or SIMPLE IRA, or for the purpose of a rollover from a qualified plan, 403(b), or governmental 457(b) plan.
Penalties may apply if you withdraw before age 591/2.

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